At the start of the week, Bitcoin ETFs experienced significant outflows, causing the total net inflows of U.S. investment products to drop below $15 billion. According to data from Farside Investors, Bitcoin ETFs saw a net outflow of $145.9 million on June 17. The majority of these outflows came from the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB), which recorded outflows of $92 million and $50 million, respectively.
Additionally, the VanEck Bitcoin Trust (HODL) and the Grayscale Bitcoin Trust (GBTC) experienced smaller outflows of $3.8 million and $3 million, respectively. Despite the bearish market sentiment and ongoing outflows, the Bitwise Bitcoin ETF (BITB) managed to record inflows of $2.9 million on June 17, as per Farside Investors’ data. Other Bitcoin ETFs remained neutral.
Read more Bitcoin ETFs See Significant Inflows Amid Investor Confidence
It’s noteworthy that spot Bitcoin ETFs registered a net outflow of $580.6 million in just the past week, following four weeks of net inflows into investment products totaling approximately $4 billion. This recent series of outflows has brought the total net inflows for Bitcoin ETFs to $14.96 billion, based on data from Farside Investors.
These outflows are occurring amidst widespread FUD (fear, uncertainty, and doubt) in the broader cryptocurrency market, which has seen the price of BTC fall below the $66,000 mark. According to the report, the global cryptocurrency market capitalization has declined by 2.6% over the past day, now standing at $2.485 trillion.
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